Aussie summer music festival FOMO goes into liquidation

Touring pop, hip hop and dance music festival FOMO is being liquidated, The Music reports.

Accounting firm Hall Chadwick are handling the liquidation, with a spokesperson revealing FOMO creditors could be owed close to five million dollars. According to liquidation documents obtained by The Music, the company behind FOMO was “resolved by special resolution on 15 May 2020”.

The liquidator intends to generate a report for creditors within three months. The report will outline the sort of action that can be taken to benefit the company’s creditors, including whether any dividend to creditors is possible.

“Going forward, the Liquidator will continue to conduct the liquidation including but not limited to liaising with the Company’s creditors, realising all assets and recoverable avenues of the company for the benefit of its creditors and investigating the Company’s affairs,” said the Hall Chadwick spokesperson.

Or, to put it in a way that cuts through the jargon, FOMO is kaput. This is accentuated by the fact the festival’s social media pages – including Instagram, Twitter, and Facebook – are now blank slates.

BBE Touring & Events launched FOMO in 2016. BBE describes itself as “a small team of music lovers from Sydney” who “lovingly develop and execute touring strategies.” Founded by Anand Krishnaswamy, Steven Papas and Jessica Krishnaswamy, BBE conceived FOMO with the guiding principle of “one stage, no clashes, party together.” BBE’s social media accounts have also become inactive.

FOMO’s last instalment took place in January 2020. The four date tour welcomed international acts such as Lizzo, Brockhampton, Madeon, Kaytranada, Meduza, Rico Nasty and Giggs. Locals Chillinit and Ninajirachi also joined the action.

Past headliners included Skepta, Nicki Minaj, Empire Of The Sun, Jamie xx and Post Malone. FOMO began in Brisbane, but its immediate popularity encouraged the promoters to stretch out into Sydney and Adelaide in 2017, and Melbourne in 2019.

Check out ‘Blumiere’ by Ninajirachi:

This article originally appeared on The Industry Observer, which is now part of The Music Network.